BBN file photo

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks stayed on the downward trend at midday on Sunday as investors continued their selling binge after budget announcement.

Analysts said investors might have reacted negatively to the proposed budget as the there was no specific direction on the capital market except corporate tax cut for listed banks and financial institutions.

Following the previous day’s downward trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower with low turnover trading activities.

Within first 30 minutes of trading, the key index of the country’s prime bourse fell more than 23 points while the CSE All Share Price Index (CASPI) of port city’s bourse lost 26 points at 10:30am.

After first hour of trading, the DSEX fell more than 30 points while the CSE All Share Price Index (CASPI) of port city’s bourse lost 64 points at 11:00am.

After two hours of trading, DSEX fell more than 37 points while the CSE All Shares Price Index lost 64 points at 12:00 noon when the report was filed.

DHAKA STOCK EXCHANGE
DSEX, the prime index of the DSE stands at 5,329 points, losing 37 points at 12:00 noon.

The DS30 index, comprising blue chips, also fell 16 points or to reach at 1,961 points till then.

The DSE Shariah Index (DSES) also lost 6.08 points to stand at 1,232 points till then.

Turnover, the crucial indicator of the market, stands at BDT 1.93 billion, when the report was filed at 12:00 noon.

Monno Ceramic Industries was the most traded stocks till then with shares worth Tk 112 million changing hands, closely followed by Pharma Aid BDT 68 million, Berger Paints BDT 64 million, Queen South Textile BDT 62 million and Alif Industries BDT 60 million.

Of the issues traded till then, 109 advanced, 163 declined and 42 issues remained unchanged on the DSE trading floor.

CHITTAGONG STOCK EXCHANGE

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw negative trend till then with CSE All Shares Price Index of port city’s bourse – falling 64 points to stand at 16,485 points, also at 12:00 noon.

The Selective Categories Index of the port city bourse also lost 40 points to reach at 9972 points till then.

Of the issues traded till then, 44 gained, 77 declined and 16 issues remained unchanged with BDT 51 million in turnover.

BBN/SSR/SR